Quarterly report pursuant to Section 13 or 15(d)

RELATED PARTY TRANSACTIONS AND BALANCES

v3.6.0.2
RELATED PARTY TRANSACTIONS AND BALANCES
9 Months Ended
Dec. 31, 2016
Related Party Transactions [Abstract]  
Related Party Transactions Disclosure [Text Block]
8.
RELATED PARTY TRANSACTIONS AND BALANCES
 
Due from related parties
 
(a)
As of December 31, 2016, the Company had advances receivable from the Chief Operating Officer (“COO”) and former Chief Technology Officer (“CTO”) for $40,913 (March 31, 2016 - $41,445). These advances are unsecured, bear interest at a rate of 1% based on the Canada Revenue Agency’s prescribed rate for such advances and are payable on demand in Canadian dollars. The Company, at December 31, 2016, has accrued interest receivable in the amount of $1,177 (March 31, 2016 - $1,148); the remaining fluctuation in the balance from the prior year is due to foreign exchange.
 
Accounts payable and accrued liabilities
 
(b)
As at December 31, 2016, $28,081 (March 31, 2016 - $2,694) was owing to the CEO, $Nil (March 31, 2016 - $3,284) was owing to the former CTO, $11,815, was owing to the COO (March 31, 2016 - $8,812), $2,671 was owing to the CFO (March 31, 2016 - $116), and $5,054 was owing to our Chief Commercial Officer (March 31, 2016 - $Nil), in each case related to business expenses, all of which are included in accounts payable and accrued liabilities.